Ledger revealed that LTE-enabled spy implants captured users’24-word recovery phrases from hardware wallets sold by CryptoBilis,an authorized reseller in Indonesia, Malaysia and the Philippines. The implants, discovered by Ledger Donjon’s security research team, used a microcontroller to decode phrases displayed during setup and transmitted data over LTE networks via an embedded SIM. Blockchain investigator Specter estimated losses exceeding $86 million,while cybersecurity outlet Yfarmx raised its own estimate to $103 million,amounts Ledger has not confirmed. In response, CryptoBilis suspended all hardware wallet sales, and Trezor and OneKey terminated their reseller relationships.
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